Daimler Truck Head Sees Signs Of Chip Crisis Recovery

  • Daimler Truck Holding AG DTRUY head Karin Radstrom, in an interview with Bloomberg, acknowledged seeing chip crisis recovery signs. Her comments mirrored with Mercedes Benz Group AG DMLRY production chief Joerg Burzer's recent similar assessment. 
  • Radstrom added that the factories are busy with backlog orders after months of outages due to chip component shortfalls.
  • The order backlog comes at a time of weakness in the global economy.
  • Radstrom also said there is positive momentum in truck manufacturing amid growing weakness in the global economy, despite being a highly cyclical sector.
  • Also Read: Semiconductor Chip Crisis To Cost $210B In Auto Revenue Loss
  • Daimler also successfully manage to dodge disruption from China's Covid lockdowns.
  • Daimler Truck had to slash output despite booming demand for transport due to the global crisis.
  • Previously, the U.S. government sought more supply chain transparency from the semiconductor companies to counter the global chip crisis.
  • The semiconductor crisis has forced auto companies like Ford Motor F and General Motors GM to opt for production cuts as chipmakers were lured by the Covid-19 pandemic fueled demand for smartphones and computers.
  • Photo via Wikimedia Commons

Posted In: BriefsNewsTechMedia

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.